Cloud Robotics Market - Industry Analysis, Growth, Trends, Forecast 2024

Cloud robotics can be defined as a field of advanced robotics characterized by the integration of technologies such as cloud computing, cloud storage, and the Internet with robots. Cloud robotics allows robots to collaborate with other machines and humans while sharing data and resources with each other using modern wireless technologies such as 5G, Bluetooth, and Wi-Fi. The growing investments in this market by governments, large companies, original equipment manufacturers (OEMs), and venture capitalists (VCs) is characterized by the proliferation of robotics in the manufacturing and automobile industries, though other industries are also adopting them. The declining cost and the increasing practicality of the robotics, as these can be made to requirement, is helping many industries move toward their adoption.

There are many factors driving the global cloud robotics market’s growth. Advancements in artificial intelligence (AI) and satellite & computer chip technology are major drivers. Significant developments in the software framework and cloud & communication infrastructure of modern datacenters are also driving the global cloud robotics market. The proliferation of cloud computing and big data analytics platforms is further expected to drive the market. The increased adoption of wireless technologies and smart-devices, coupled with the integration of IoT in daily life is also expected to propel the market’s growth. Increased labor safety concerns and the need for automation is further expected to boost market growth. Rising labor cost, especially in developed countries, is also expected to add to the global cloud robotics market’s growth.

Some of the major restraints of the global cloud robotics market are high initial cost and unbalanced global economic recovery. These are expected to hinder R&D investment in robotics technology and restrain the market’s growth. The high dependence of cloud robotics on fast Internet connectivity for processing any function is also expected to be one of the market restraints, as these robots are unable to function effectively and respond promptly in areas with limited or slow Internet connectivity.

The global cloud robotics market is segmented on the basis of types, connectivity technology, deployment model, end-users, and region. On the basis of type, the market is subsegmented into industrial, commercial, military, and personal sectors. On the basis of connectivity technology, the market is divided into Bluetooth, Wi-Fi, 3G, 4G, and 5G. On the basis of deployment models, the market is divided into public, private, and hybrid. On the basis of end-users the market is segmented into manufacturing, aerospace and defense, education, logistics, agriculture, home, and construction.

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Europe is expected to be witness a high growth rate while North America is expected to hold a prominent market share of the global cloud robotics market during the forecast period. Asia Pacific is expected to gain significant market share owing to the region’s high population, increasing business and growing number of Internet users.

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Some of the major players in global cloud robotics market include Google, Inc., International Business Machines Corporation, Space Exploration Technologies Corporation, Mazor Robotics, Ltd., ABB Asea Brown Boveri Ltd., Adept Technology, Inc., Ekso Bionics Holdings, Inc.,

FANUC Corporation, Lockheed Martin Corporation, Recon Robotics, Inc., Boston Dynamics, iRobot Corporation, KUKA AG, SoftBank Robotics Holding, and Microsoft Corporation.

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